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Brian HardzinskiThe state treasurer's office says the latest gross domestic product report shows a year-long recession in Oklahoma. The state GDP report by the Bureau of Economic Analysis indicates Oklahoma's economy has contracted for four straight quarters going back to the spring of 2015. “Oklahoma ranked 39th among the state for economic change during the first three months of the calendar year, with GPD down 0.5 percent,” the report says. “It is one of 13 states that experienced negative economic growth during the quarter.” Mining, durable goods manufacturing, transportation, and wholesale trade all contracted by less than a percent during the second quarter. Agriculture grew by 0.83 percent during that time frame. State Treasurer Ken Miller's monthly Oklahoma Economic Report out this morning also says Oklahoma's unemployment rate for June is still below the national average, but rose by one-tenth of a percentage point since May. Read The Entire Report From The Treasurer's Office KGOU relies onState Treasurer's Report: Oklahoma's Recession Hits The 1-Year Markhttp://kgou.org/post/state-treasurers-report-oklahomas-recession-hits-1-year-mark
79728 as http://kgou.orgMon, 01 Aug 2016 14:32:50 +0000State Treasurer's Report: Oklahoma's Recession Hits The 1-Year MarkBrian HardzinskiOil and natural gas production tax collections increased slightly over the past two months, although they're still well below this time last year. Gross receipts for the month of June were $925.7 million, or 7.4 percent lower than the June 2015 total. Oklahoma Treasurer: Recession Continues, But Energy Turnaround May Be In Sighthttp://kgou.org/post/oklahoma-treasurer-recession-continues-energy-turnaround-may-be-sight
78105 as http://kgou.orgThu, 07 Jul 2016 13:16:17 +0000Oklahoma Treasurer: Recession Continues, But Energy Turnaround May Be In SightAdam BrooksA study by the group Metro Economics found Oklahoma City recovered from the Great Recession more quickly than the rest of the country. But there's still bad news for the state's economy, according to recent economic indicators. The number of jobs returned to its pre-crash peak by the first quarter of 2012, and it was 2015 before more than half of the cities in the U.S. could say that. However, things are slowing here again, according to The Journal Record’s Brian Brus: Since then, however, Oklahoma’s metro economies have slowed down: Annual employment growth for 2017 is projected at 1.5 percent in Oklahoma City, 1.4 percent in Tulsa and 0.7 percent in Lawton. “There was a significant divergence in metro employment growth in 2015, as the rapid decline in oil prices handicapped economic growth in several regions,” the report by IHS Global Insight says. “While several Texas metros, for example, plummeted to the bottom of the growth chart, a number of regions without sizable energyReport: Economic Growth Slowed In Oklahoma City, Tulsa In Recession’s Wakehttp://kgou.org/post/report-economic-growth-slowed-oklahoma-city-tulsa-recession-s-wake
77559 as http://kgou.orgTue, 28 Jun 2016 14:33:30 +0000Report: Economic Growth Slowed In Oklahoma City, Tulsa In Recession’s WakeBrian HardzinskiData from the U.S. Bureau of Economic Analysis indicates Oklahoma came close to a recession last year due to stagnant energy prices. Numbers out Wednesday show Oklahoma saw just 0.1 percent gross domestic product growth during the third quarter of 2015. Only Alaska, North Dakota, and West Virginia saw worse numbers – with negative GDP growth. Oklahoma was on par with Texas, New Mexico, Washington, Nevada, Wyoming, and New York at GDP growth below 1 percent. Oklahoma saw a 2.4 percent decrease in GDP during the second quarter of 2015 – April through June – having the worst performance of all states that quarter. The Oklahoman’s Paul Monies writes there’s no universal definition of when a recession starts, but it’s generally accepted after two straight quarters of negative GDP growth. Again, energy played a major role in slowing Oklahoma's economy, the bureau said. The energy sector shrank by 1.5 percent in Oklahoma in the third quarter, followed by declines in durable goodsOklahoma Came Close To Recession In Last Half Of 2015http://kgou.org/post/oklahoma-came-close-recession-last-half-2015
70576 as http://kgou.orgMon, 07 Mar 2016 16:11:51 +0000Oklahoma Came Close To Recession In Last Half Of 2015Brian Hardzinski On Tuesday, the first organized resistance to Oklahoma’s “right-to-farm” movement gathered at the state Capitol to voice their opposition to State Question 777, which will put the issue before a vote of the people in November 2016. Some background: right-to-farm is the idea there’s a guaranteed, unalienable right for farmers and ranchers to earn a living free from government intervention. “The proposed law says that regulations of agriculture must have a compelling state interest, and that's a very high bar to get over,” said The Journal Record’s managing editor Adam Brooks. The Oklahoma Stewardship Council is led by former Attorney General Drew Edmondson, and the group says it plans to spend about $2 million on a campaign to fight the ballot initiative over the next year. During Tuesday’s press conference, Edmondson said right-to-farm could end the regulation of cockfighting and puppy mills, according to The Journal Record’s Dale Denwalt: Despite claims that the measure would protectWhy Messaging Matters As Right-To-Farm Opponents Gear Up For Year-Long Campaignhttp://kgou.org/post/why-messaging-matters-right-farm-opponents-gear-year-long-campaign
63982 as http://kgou.orgFri, 20 Nov 2015 12:35:00 +0000Why Messaging Matters As Right-To-Farm Opponents Gear Up For Year-Long CampaignAssociated PressOklahoma's treasurer says low oil and natural gas prices helped push last month's state revenue below levels from a year earlier. Treasurer Ken Miller said Wednesday the state's gross receipts in June were less than collections from the prior year for the second consecutive month and the fourth time in the fiscal year that ended June 30. Miller says the state's economy is feeling the downturn in energy prices. He says gross production numbers have been below prior year collections for six consecutive months and the state may be experiencing a corresponding decline into other revenue streams, including motor vehicle and sales tax collections. Collections in June were 3.9 percent less than in June 2014. Collections from oil and gas production dropped more than 54 percent below the prior year. KGOU produces journalism in the public interest, essential to an informed electorate. Help support informative, in-depth journalism with a donation online, or contactourMembership department. Oklahoma Treasurer Says State Revenue Declines Again In June http://kgou.org/post/oklahoma-treasurer-says-state-revenue-declines-again-june
55769 as http://kgou.orgWed, 08 Jul 2015 22:24:37 +0000Oklahoma Treasurer Says State Revenue Declines Again In June editorPuerto Rico evokes images of beautiful beaches, palm trees and perfect weather. But economically, the island is struggling. Its in its eighth year of recession, the unemployment rate is 12 percent and tens of thousands of people have left the island in recent years in search of better opportunities.Puerto Rico is now $73 billion in debt and no longer able to meet its payments, and the government is facing the very real possibility that it will run out of money by July.Here Puerto Rico On The Brink Of Running Out Of Moneyhttp://kgou.org/post/puerto-rico-brink-running-out-money
51830 as http://kgou.orgTue, 05 May 2015 19:42:55 +0000Puerto Rico On The Brink Of Running Out Of MoneyAssociated PressA new monthly survey report says April results suggest that slow economic growth remains ahead for nine Midwestern and Plains states. The survey report issued Friday says the overall Mid-America Business Conditions Index rose to 52.7 last month from 51.4 in March. Creighton University economist Ernie Goss oversees the survey, and he says rising economic expectations from non-energy firms, resulting from lower energy prices, "more than offset economic pessimism stemming from weakness in firms directly tied to energy." The survey results from supply managers are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests economic growth, while a score below that suggests decline. The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota. ----- As a community-supported news organization, KGOU relies on contributions from readers and listeners to fulfill its mission of publicApril Economic Report Suggests Slow Growth Ahead In Midwesthttp://kgou.org/post/april-economic-report-suggests-slow-growth-ahead-midwest
51642 as http://kgou.orgSat, 02 May 2015 11:36:00 +0000April Economic Report Suggests Slow Growth Ahead In MidwestMichael RobertsUnresolved issues tied to education, incarceration and mental health services will hamstring Oklahoma’s ability to remain among the nation’s top 5 fastest growing economies, a panel of government officials and economists concluded during the Oklahoma Policy Institute’s 2nd Annual State Budget Summit. On January 29, OPI Director of Policy Gene Perry led the panel through “An Economic Check-Up” of the state’s current economic conditions and fiscal policies. Shelley Cadamy, the Executive Director of Workforce Tulsa, focused on the state’s low workforce participation rate and related challenges faced by job-seekers and employers. “The problem is a mismatch in skills and education necessary for those jobs,” Cadamy suggested. University of Central Oklahoma’s College of Business Dean Mickey Hepner echoed the point, saying that he doesn’t fear the future, but the state's lack of preparation for it. “It’s not okay for Oklahoma to be 49th in the nation in teacher pay. It’s not okay for us to bePanel On Oklahoma’s Economy: A Growing State With A Declining Workforcehttp://kgou.org/post/panel-oklahoma-s-economy-growing-state-declining-workforce
47838 as http://kgou.orgMon, 02 Mar 2015 17:19:45 +0000Panel On Oklahoma’s Economy: A Growing State With A Declining WorkforceAssociated PressThe Oklahoma Employment Security Commission says the state's unemployment rate declined by two-tenths of a percentage point in December, from 4.4 percent in November to 4.2 percent. State officials said Tuesday that five of the state's nine seasonally adjusted business sectors added jobs in December. Professional and business services led the way with an over-the-month increase of 2,000 jobs. The construction, educational and health services and government sectors also posted sizeable gains for the month. Four business sectors recorded small job losses in December, but all nine of the state's seasonally adjusted business sectors saw year-to-year job growth. Over the year, the seasonally adjusted unemployment rate dropped by 1.2 percentage points. The U.S. unemployment rate improved from 5.8 percent to 5.6 percent for the month. __________________________________ KGOU produces journalism in the public interest, essential to an informed electorate. Help support informative, in-depthState Unemployment Rate Falls To 4.4 Percenthttp://kgou.org/post/state-unemployment-rate-falls-44-percent
45687 as http://kgou.orgTue, 27 Jan 2015 18:08:14 +0000State Unemployment Rate Falls To 4.4 PercentSuzette Grillot, Joshua Landis, Rebecca Cruise Suzette Grillot and Rebecca Cruise discuss day-after-Christmas traditions around the world, and Joshua Landis provides an update on how economies around the world have fared during 2014. Then, a conversation with photojournalist and activist Paula Allen. For a quarter century, she has chronicled the stories of these women during and after the search for their missing family members. She published her photos in the book Flowers in the Desert. World Views: December 26, 2014http://kgou.org/post/world-views-december-26-2014
43606 as http://kgou.orgFri, 26 Dec 2014 22:30:00 +0000World Views: December 26, 2014Brian Hardzinski The United Kingdom and many Commonwealth countries typically celebrate Boxing Day every December 26. The tradition of giving servants and tradespeople a "Christmas box" of food and gifts from their employers dates back to the Middle Ages. In South Africa, the holiday was officially renamed the Day of Goodwill in 1994. But in other European countries, December 26 is celebrated as "Second Christmas Day" - an entirely different holiday. A Look At Day-After-Christmas Holidays Around The Worldhttp://kgou.org/post/look-day-after-christmas-holidays-around-world
43605 as http://kgou.orgFri, 26 Dec 2014 17:53:00 +0000A Look At Day-After-Christmas Holidays Around The WorldAssociated PressState officials say Oklahoma's unemployment rate dipped to 4.4 percent last month. The Oklahoma Employment Security Commission reported Friday that November's unemployment rate showed a slight decrease from October's rate of 4.5 percent. Meanwhile, the U.S. unemployment rate held steady at 5.8 percent. Over the year, the state's seasonally adjusted unemployment rate was down by 1.1 percentage points. The commission says Oklahoma's seasonally adjusted nonfarm employment added 3,400 jobs in November. The U.S. seasonally adjusted nonfarm employment expanded by 321,000 jobs over the month. Statewide nonfarm employment has grown by 33,500 jobs since November 2013. The commission says seven of Oklahoma's nine reported seasonally adjusted sectors gained jobs in November, led by professional and business services, which added 2,700 jobs. The leisure and hospitality sector lost 1,500 jobs in November. -------------------------------------------- KGOU produces journalism in the public interest,Oklahoma Unemployment Rate Dips In Novemberhttp://kgou.org/post/oklahoma-unemployment-rate-dips-november
43425 as http://kgou.orgFri, 19 Dec 2014 21:50:59 +0000Oklahoma Unemployment Rate Dips In NovemberAssociated PressLower oil prices are raising new financial worries in Oklahoma and other states that rely on oil taxes to pay for roads and other government services. With oil prices around a five-year low, budget officials in about a half-dozen states have begun paring back projections for a continued gusher of revenues. Spending cuts have started in some places, and more reductions could be necessary if oil prices remain at lower levels during the coming year. How well the oil-rich states survive the downturn may hinge on how much they have saved and how greatly they depend on oil revenues for basic services. Texas has diversified its economy since oil prices crashed in the mid-1980s and isn't expressing concern. But Alaska remains heavily dependent on oil and will have to tap into savings. ______________________________________ KGOU is a community-supported news organization and relies on contributions from readers and listeners to fulfill its mission of public service to Oklahoma and beyond.Falling Oil Prices Threaten Tax Revenueshttp://kgou.org/post/falling-oil-prices-threaten-tax-revenues
42889 as http://kgou.orgThu, 11 Dec 2014 23:12:01 +0000Falling Oil Prices Threaten Tax RevenueseCapitol Oklahoma will continue to see job growth in 2015, even if lower energy prices slow those increases, Oklahoma State University economist Dan Rickman said Tuesday. Speaking at the 2015 Oklahoma Economic Outlook Conference, which is hosted by the OSU Center for Applied Economic Research at the university’s Spears School of Business, Rickman forecast over 30,000 jobs will be added to the Oklahoma workforce during the 12-month period beginning Jan. 1. The majority of the jobs, he said, are expected to be in administrative and support services and durable goods manufacturing. More than 5,000 new jobs are projected to be created in each sector, according to Rickman.Rickman: Oklahoma Will See Job Growth In 2015 But Oil Prices May Slow It Downhttp://kgou.org/post/rickman-oklahoma-will-see-job-growth-2015-oil-prices-may-slow-it-down
42288 as http://kgou.orgWed, 03 Dec 2014 00:58:33 +0000Rickman: Oklahoma Will See Job Growth In 2015 But Oil Prices May Slow It DownKate Carlton Greer, Brian Hardzinski Several economists praised Oklahoma's metro areas as engines of growth, but criticized state leaders for failing to plan for the long term. During the Greater Oklahoma City Chamber's State of the Economy luncheon Wednesday, University of Central Oklahoma College of Business Dean Mickey Hepner said Oklahoma City set a model in performing long-term planning and raising the sales tax through the city’s MAPS plan. Statewide, though, Hepner argues officials placed shortsighted gains ahead of investing in infrastructure and education "Until our state leaders take that same emphasis on thinking more about tomorrow than today, our state and its people will never reach its full potential," Hepner said. The panel also hailed the oil and gas industry as a leading force in Oklahoma. Russell Evans, the director of the Steven C. Agee Economic Research and Policy Institute at Oklahoma City University, said despite a worldwide drop in the price of oil, he continues to see stability in the state. EvansEconomists Optimistic About Oklahoma Growth, Worried About Inaction On Roads, Teacher Payhttp://kgou.org/post/economists-optimistic-about-oklahoma-growth-worried-about-inaction-roads-teacher-pay
41718 as http://kgou.orgMon, 01 Dec 2014 17:00:00 +0000Economists Optimistic About Oklahoma Growth, Worried About Inaction On Roads, Teacher PayAssociated PressA monthly economic survey index for nine Midwestern and Plains states suggests economic growth in the region will slow down in the months ahead. A survey report issued Wednesday says the overall September index dropped nearly three points to 54.3, from 57.2 the previous month. Creighton University economist Ernie Goss, who oversees the survey, says a drop in grain prices over the past year has led to a pullback in economic activity for the heavily agrarian region. The survey results from supply managers are compiled into a collection of indexes ranging from zero to 100. Survey organizers say any score above 50 suggests economic growth, while a score below that suggests decline. The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota. ----- KGOU is a community-supported news organization and relies on contributions from readers and listeners to fulfill its mission of public service to Oklahoma and beyond. Donate online, or byMidwest Economic Index Drops In September Due To Drop In Grain Priceshttp://kgou.org/post/midwest-economic-index-drops-september-due-drop-grain-prices
38411 as http://kgou.orgThu, 02 Oct 2014 01:39:13 +0000Midwest Economic Index Drops In September Due To Drop In Grain PricesBen Fenwick Education is a core service of Oklahoma’s state government, is woefully underfunded, and will cost the state future jobs if not addressed soon. That’s the message of some panelists convened by the Oklahoma Policy Institute last month, which discussed Oklahoma’s burgeoning fiscal challenges. The panel included Oklahoma State Senate President Brian Bingman, State Treasurer Ken Miller, House Minority Leader Scott Inman, Chief Financial Officer for City of Norman Anthony Francisco, Oklahoma Education Association Associate Executive Director Amanda Ewing, and Oklahoma State University economist Dan Rickman . Rickman said the state needs to play the “long game” by adequately supporting education to attract more businesses with a knowledgeable workforce instead of trying to use incentives like tax cuts. “Reduce incentives…We do not see any evidence that this is contributing to growth in our economy….North Dakota and Wyoming are using (energy taxes) to fund education. Their teachers areFiscal Panelists: Anemic Education Funding May Cost Jobshttp://kgou.org/post/fiscal-panelists-anemic-education-funding-may-cost-jobs
37857 as http://kgou.orgMon, 22 Sep 2014 18:43:37 +0000Fiscal Panelists: Anemic Education Funding May Cost JobsBen Fenwick Rose State College recently established both men’s and women’s soccer teams, hoping to kick off new interest in their college. Called the “Raiders,” named for daring, barn-storming World War II bomber pilots; the teams compete in Division I, Region II of the National Junior College Athletic Association. But they also hope to garner interest in the college in the hearts and minds of would-be students and their parents. The Journal Record's Brian Brus reports enrollment is up at the college since announcement of the program earlier this year. Athletic director Joey DaVault said the new soccer field is ready and the home game will feature prize giveaways and ice cream. “With the addition of soccer to intercollegiate baseball and softball, Rose State College is demonstrating its commitment to offering a breadth of athletic experiences for community college students,” DaVault said in a prepared statement. “We welcome the community and soccer fans everywhere to come out and join us.” HoweverGrowth Is 'Goal' For Metro Soccer Programshttp://kgou.org/post/growth-goal-metro-soccer-programs
36818 as http://kgou.orgFri, 05 Sep 2014 11:30:00 +0000Growth Is 'Goal' For Metro Soccer ProgramsAssociated PressA monthly economic survey index for nine Midwestern and Plains states has slumped after hitting a three-year high a month earlier. A report issued Friday says the overall Mid-America Business Conditions Index dropped more than 3½ percentage points in July, to 57.0. The index had risen slightly in June, to 60.6. Looking six months ahead, the business confidence portion of the overall index also declined. It hit 60.0 last month, compared with 63.6 in June. The survey results from supply managers are compiled into a collection of indexes ranging from zero to 100. Survey organizers at Creighton University say any score above 50 suggests economic growth, while a score below that suggests decline. The survey covers Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma and South Dakota. Report: Midwest Economic Index Slumped In July http://kgou.org/post/report-midwest-economic-index-slumped-july
34627 as http://kgou.orgSat, 02 Aug 2014 00:24:08 +0000Report: Midwest Economic Index Slumped In July